UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Eastman Chemical Company After In-Line Q4

In a report published Friday, Jefferies reiterated its Hold rating on Eastman Chemical Company

, and raised its price target from $71.00 to $79.00. Jefferies noted, “After an in-line Q4, Eastman's take on 2013E appears balanced between a favorable pricing environment and caution on the pace of recovery (especially Europe). We are raising our price target $8 to $79, 11x 2014E EPS. We expect a better entry point this summer, and we reiterate our Hold rating.” Eastman Chemical Company closed on Thursday at $72.47.